Published reports

LEGG MASON INVESTMENTS (EUROPE) LIMITED

Company number: 01732037

This information is as reported by the business, and responses are in their own words.

Reporting period:

1 April 2018 to 30 September 2018

Report filed on:

6 November 2018

Approved by:

Justin Eede

Payment statistics

Average time taken to pay invoices: 28 days

Invoices paid:

within 30 days: 95%
in 31 to 60 days: 5%

Late and disputed:

payments due in the reporting period which have not been paid within the agreed period: 21%

Payment terms

Shortest standard payment periods

28 days

Longest standard payment period

30 days

Standard payment terms

Payment terms standard 30days

Were there any changes to the standard payment terms in the reporting period?

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

30 days

N/A

Any other information about payment terms

N/A

Dispute resolution process

Initial queries are directed to Accounts Payable based in UK (e-mail or telephone). If Accounts Payable are uanble to resolve the issue, these are escalated to the company contract who engaged the supplier's services/ requested goods. When suppliers enter into a contract they are provided with the contract details for Accounts Payable.

Other payment information

Has this business signed up to a code of conduct or standards on payment practices? If so, which?

For example, signatories to The Fair Payment Code must commit to paying 95% of their invoices within 60 days.

No, this business has not signed up to a code of conduct or standards on payment practices.

Does this business offer e-invoicing in relation to qualifying contracts?

This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.

Does this business offer supply chain finance?

This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.

Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?